Millions of Americans lost their jobs during the Covid-19 pandemic. What can you do to improve your financial health after significant, unpreventable setbacks?
According to the U.S. Bureau of Labor Statistics, employment fell by 8.8 million over 2020 due to the Covid-19 pandemic. Tina worked at a law firm in downtown Cleveland when the pandemic hit. While she didn’t lose her job, her hours were cut, and she began to feel financially strained. That same year, her mother passed away. With 4 sons, 2 of whom still live with her at home, she had to find a way to get back on her feet and regain her financial security.
She started looking for options to access the equity in her home. A couple of homebuyers demonstrated interest in purchasing and reselling her property, but “I wasn’t ready to make that much of a drastic change. I didn’t want to let go of our home—we’ve been here so long.”
She found herself googling, researching ways to improve her financial situation and get out of debt. That’s when she discovered Truehold.
“I didn’t want to let go of our home—we’ve been here so long.”
Always a responsible consumer, Tina needed to make sure the company was legitimate. After calling and talking to her Truehold advisor, her doubts vanished. “She walked me through every step. Any questions I had, she’d find the answers for me. She made me very comfortable with the process.”
From listing to closing, the average home sale takes 71 days. Prior to finding Truehold, Tina was worried about how long it would take to access the cash in her home. Truehold eased these concerns, and her sale-leaseback was able to happen quickly. “My Truehold Advisor covered everything so when things came up it was never a surprise.”
She was worried “about how much I’d have to pay monthly,” but Truehold created a personalized experience for Tina. They discussed her terms and settled on a “comfortable spot” to help make sure she won’t end up back in debt.
“My Truehold Advisor covered everything so when things came up it was never a surprise.”
Ever since doing the sale-leaseback, Tina is “a lot more stress-free. My financial obligations are gone.” She’s feeling much more confident and secure in her finances, and she’s able to stay in the home she loves. “It’s cozy, it’s quiet, it’s spacious. I love the neighborhood.”
The world is still enduring and simultaneously recovering from Covid. With the help of Truehold, Tina was able to find the “breathing room” she needed to build back her life.
“[I'm] a lot more stress-free. My financial obligations are gone.”
Thank you, Tina, for sharing your story!
* This interview has been edited for length and clarity.
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